The meeting of the South Bay Community Association (SBCA) Board of Directors was held at the Bay Club on the above date. Directors present were: Joe Kelly, Dan Meade, Tom McCay, Ken Snider, Sharon Walker, and Chris Whitehurst. Lee Springgate was absent.
Dan Meade called the meeting to order at 9:00 AM. A quorum was present.
Please note: Starting this month these minutes are presented in line with Robert's Rules of Order. They will generally reflect only actions taken by the Board. Unofficial commentary on what was said and opinions expressed can be found in The Port Ludlow Voice, which is available in hard copy or online.
•Prior Meeting
Minutes:
MSP to approve the January meeting minutes as amended. (All ayes)
•Financial Report:
Chris Whitehurst reported the financial highlights for December, showing the Total Current Assets for the month to be $345,077.78 and Total Assets to be $558,373.86, with an increase of $26,716.28 over last year’s Total Assets. The Income Statement for December showed total revenues of $7,058.92 and Total Operating Expenses of $30,234.92, with a Net Operating Surplus of $28,301.62 for the current fiscal year. The Maintenance reserve is $166,872.89 and the Renovation Fund is $118,229.64.
MSP to accept the Financial Report for December, 2008. (All ayes)
New
Business
MSP to change Policy 3.010.00 #3 to read: “committee when required by the Board
will keep written minutes of all meetings.” (All ayes)
MSP in the Finance and Long Range Planning Committee Charter, under
“Responsibilities”, to omit the word “other” from the description in item #5;
and, under “Meetings”, to omit “generally on a monthly basis” to have the
statement read as follows: “The Committee will meet as required. Meetings will
be open to members of SBCA and report as needed to the SBCA Board of Directors.”
(All ayes)
MSP to
continue the current policy of admitting SBCA members and their guests staying
in their homes to use the pool and exercise equipment, until the issue is
revisited at next month’s meeting. (All ayes)
Meeting adjourned at 11:45AM Next monthly meeting: Friday, March 6, 2009
The Bay Club at 9:00AM
Joe Kelly,
SBCA Secretary
Financial Reports December 2008
Income Stmt.
Bal. Sheet